The Minister of State for Petroleum, Dr. Emmanuel Ibe Kachikwu in Port Hacourt Refinery Company (PHRC), where he spent Christmas revealed that the Federal Government would on January 1 next year reduce the pump price of the Premium Motor Spirit (PMS) to N85 per litre.
According to him, the new price is below the current N87 per litre and it would now convince Nigerians that the pricing modulation that the Federal Government promised to embark on a few days ago was not a trick.
He noted that following government's analysis and research, it has been realized that the country can fluctuate the fuel market in accordance with the crude oil market fundamentals.
Nigerians await the effectiveness of this news and I hope the easterners finally benefit from it.
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